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UNISYS OFFERS $250 MILLION OF SENIOR NOTES AND AMENDS CREDIT AGREEMENT

UNISYS OFFERS $250 MILLION OF SENIOR NOTES AND AMENDS CREDIT AGREEMENT
 BLUE BELL, Pa., Sept. 15 /PRNewswire/ -- Unisys Corp. (NYSE: UIS) said today that it offered $250 million of 9.75 percent Senior Notes due 1996, priced to yield 9.80 percent, through underwriters Lehman Brothers and Merrill Lynch.
 It also announced that an amendment initiated by the company to its existing $1.25 billion revolving credit agreement has been completed with its bank group.
 Interest on the notes will be payable March 15 and September 15 of each year beginning 1993. The notes, which are non-callable, are being issued for general corporate purposes including retirement of debt.
 James A. Unruh, Unisys chairman and chief executive officer, said "We are making good progress in realigning our capital structure and these actions will assist us in this high priority program. The revolving credit agreement amendment will enable us to use the facility as a true revolving line of credit and gives the company greater flexibility to utilize the nearly $1 billion successfully raised since June from the public capital markets."
 Under the amendment, Unisys paid down $200 million of the current $1.05 billion outstanding and the amount of the facility was reduced to $850 million. In addition, the amendment gives Unisys the right to pay up to $100 million for the optional prepayment of debt or payment of dividends. To the extent that the company does prepay debt or pays dividends, the company will reduce the revolving credit facility by an equivalent amount. The revolving credit agreement is scheduled to expire on January 11, 1993. As previously reported, the company plans to replace the facility to, among other things, establish a new credit level and maturity date.
 /delval/
 -0- 9/15/92
 /CONTACT: J. Peter Hynes of Unisys, 215-986-6948/
 (UIS) CO: Unisys Corporation ST: Pennsylvania IN: CPR SU: OFR


MK -- PH007 -- 9502 09/15/92 09:44 EDT
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Publication:PR Newswire
Date:Sep 15, 1992
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